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POSTED BY ON November 28, 2012 9:43 pm COMMENTS (6)
Hi,
I am 23 years old and have been saving since last 6 months. In due course I have already build my emergency fund(~6 month expenses) and have been investing directly in Gold ETF.
Now I want to start my MF Investments for my future goals. My question is how can I start an SIP. I can think of two options
1. Investing through ICICIdirect (Very convinient as I already have it)
2. Opening account in different AMC’s (Very much Tedious)
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Hi Praveen,
There are no charges for Mutual Fund Investments. As long as you have a trading account with Kotak Securities, you will be able to invest in Equity, Derivatives, Mutual Funds and IPOs. For more information, you can call our customer service anytime at 30305757/1800 222 299.
Regards,
Team Kotak Securities
Kotak Securities don’t charge for MF transactions.
Can somebody comment on Kotak securities, how much they charge for MF investments. I have heard that Kotak charges are less and provide good service.
Thanks.
But my concern is which method is more secure. My horizon is around 20 years. I want that the account providers actually exist after 20 years.
And does investing through portals such as fundsindia.com and ICICIdirect provide any hardcopy letters from the AMC under which we have invested ?
ICICIDirect charge you Rs15 for a SIP transaction which is not worth paying them even if you already have a account with them
I personally am using free account from fundsindia.com and they are very good.They survive on the trail commision from AMC
There are various options –
1. Go to each and every AMC and open the SIP which you want. Like you mentioned – Tedious!
2. Open Accounts with Brokers like ICIC Direct, Sharekhan etc who also allow MF purchase. So you can do Stock trading (if you want to) and purchase MF/subscribe for SIP etc. However, note that you will incur charges – Brokerage for the Demat/Trading account itself. And ICICI Direct charges for every MF transaction (For each SIP, they charge 30rs or 1.5% whichever is lower). For Lumpsum, 100 Rs per Transaction. So this sucks. Sharekhan does not charge for MF transactions. Not sure about others.
3. The easier option is open a “Free” account with Fundsindia.com or fundsupermart.com. They dont charge you for MF transactions etc.
These are what i know of!